to: extend the Export Market Development Grants (EMDG) scheme to 2015-16; reduce the maximum grant to $150 000; reduce the maximum number of grants available for an individual recipient to seven; cap intellectual property registration expenses at $50 000; increase the minimum expenses threshold to $20 000; increase the income limit for members of approved joint ventures/consortia to $50 million; remove approved trading houses as an eligible special approval applicant category; reinstate disqualifying convictions; enable Austrade to impose conditions on the accreditation of EMDG consultants; and make changes in relation to applications submitted by accredited EMDG consultants.

Amends: 11 Acts in relation to: the Australian Prudential Regulation Authority’s (APRA) preventive powers, correction powers, failure management powers, and data collection powers, APRA’s and the Australian Taxation Office’s investigation powers, auditors and actuaries, and the Financial Claims Scheme; six Acts in relation to the methodologies governing the determination of financial sector levies; and four Acts to make technical amendments. Also repeals five redundant Acts.

to: freeze indexation of the co-contribution income threshold for the 2010-11 and 2011-12 financial years; and maintain the current matching rate and maximum co-contribution payable on an individual’s eligible superannuation contributions;

Income Tax Assessment Act 1997

to modify the thin capitalisation rules in relation to the application of accounting standards for authorised deposit-taking institutions;

Taxation Administration Act 1953

to enable certain officers to declare that a specified entity is not subject to Commonwealth tax law in relation to a specified transaction;

Income Tax Assessment Act 1936

and

Income Tax Assessment Act 1997

to provide that unexpended income of a special disability trust is taxed at a certain rate; and

to: provide that Australian Defence Force members with British nuclear test defence service are eligible for pensions, treatment and other benefits; lower the age of domicile of choice from 21 to 18 years of age; and cease eligibility for war widow or widower pension for widows and widowers who enter into a de facto relationship prior to claiming the pension;

Veterans’ Entitlements Act 1986

,

Safety Rehabilitation and Compensation Act 1988

and

Defence Service Homes Act 1918

to provide that certain submarine special operations between 1978 and 1992 will be reclassified as operational and qualifying service; and

Defence Service Homes Act 1918

and

Veterans’ Entitlements Act 1986

to reclassify certain service in Ubai in Thailand as qualifying service.